There is a big difference between having a real risk management system and believing having one.
Our trading rules and our ability to follow them are the mirror of our beliefs about ourselves
Even before placing a trade, you must have recorded in your mind the maximum acceptable loss.
We are programmed to avoid losing and we are able to do everything for that. Even if it means losing much more…
When you become consistent, you will realise every single frustrating moment you ever had.
Actually had to happen for you to get there!
Don't rush things, take it slow and master your craft.
The markets aren't going anywhere...
The most painful thing about your trading should be breaking your rules
If it's not then you have got trading all wrong...
Divorce your ego.
Marry your strategy.
Win Rate is overrated.
Risk-Reward is underrated.
The trading system is always right
Your thoughts and emotions are not.
A step-by-step solution that will solve around 80% of your trading problems.
Is simply this:
1. Place your trade
2. Close your laptop
3. Walk away
Trade Like A Pro
- Small Losses
- Big Wins
Don't Trade Like The 95%
- Small Wins
- Big Losses
Simple steps to success:
1. Find a strategy that fits you
2. Focus 100% on execution
Self- Awareness is the most underrated trading skill.
Overconfidence is equally as powerful as fear.
Most traders have an attachment to money.
And this is exactly what is prevents them from making it.
Probability of losing trades within a 50-period x Winrate. Save this as a reminder to yourself for future losing streaks…
Trading is 99% psychology
When you work on yourself that's when trading becomes a game you can finally begin to win at!
Thinking is a trading error.
All the thinking was done when you tested the system.
When you go live everything now is automatic,
You simply execute your plan flawlessly.
Don't think, react...
Overtrading is the art of lying to yourself.
Stop trying to find something that isn't there.
Let the trades come to you.
Lot's of people think trading is some magic process
It's not, it's just:
1. Edge
2. Psychology
3. Risk Management
It's just 95% can't get number #2 right.
'When you really believe that trading is simply a probability game, concepts like right or wrong
or win or lose no longer have the same significance.
– Mark Douglas
Forget fast money > Remember slow & steady wins the race
Forget winning every trade > Remember it's a game of probabilities
Forget about everyone else > Remember it's you vs you
The 3 foundations of a strategy
- Positive Edge
- Position Size Correctly
- Asymmetric Risk Reward
@Compiled from Quotes of Anonymous Stock Market Experts
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